Home > Boards > US OTC > Banking and Finance > Fannie Mae (FNMA)

Page 13 of 5th Circuit En Banc opinion.

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (1) | Next 10 | Previous | Next
RumplePigSkin Member Profile
 
Followed By 2
Posts 417
Boards Moderated 0
Alias Born 09/25/19
160x600 placeholder
Firms Warn of Risks in Plan to Take Fannie Mae, Freddie Mac Private Dow Jones News - 11/24/2019 6:00:00 AM
JPMorgan Deal Shows Possible Path to Smaller Fannie and Freddie Dow Jones News - 11/8/2019 8:29:00 AM
Banks Get Ready For Privatization Of Fannie, Freddie -- WSJ Dow Jones News - 10/24/2019 3:02:00 AM
The White House Wants to Privatize Fannie and Freddie. It Needs Wall Street's Help. Dow Jones News - 10/23/2019 12:14:00 PM
Banks Moving Flood-Based Mortgage Risks Out of Private Sector, Paper Finds Dow Jones News - 10/1/2019 4:37:00 PM
Altria, Fannie Mae, Nike: Stocks That Defined the Week Dow Jones News - 9/27/2019 6:09:00 PM
Top 4 Penny Stocks to Watch This Week InvestorsHub NewsWire - 9/16/2019 12:35:00 PM
Fannie, Freddie to Consider Alternatives to FICO Scores--5th Update Dow Jones News - 8/13/2019 11:02:00 PM
Fannie, Freddie to Consider Alternatives to FICO Scores--3rd Update Dow Jones News - 8/13/2019 4:10:00 PM
Fannie, Freddie to Consider Alternatives to FICO Scores--2nd Update Dow Jones News - 8/13/2019 3:50:00 PM
Fannie, Freddie to Consider Alternatives to FICO Scores--Update Dow Jones News - 8/13/2019 2:58:00 PM
Fannie, Freddie to Consider Alternatives to FICO Scores Dow Jones News - 8/13/2019 2:42:00 PM
Fannie, Freddie to Consider Alternatives to FICO Scores Under New Rule Dow Jones News - 8/13/2019 2:32:00 PM
Fannie and Freddie's Uncertain Future, Explained Dow Jones News - 4/24/2019 11:29:00 AM
Private Investors Encroach on Fannie and Freddie's Domain Dow Jones News - 3/9/2019 7:29:00 AM
RumplePigSkin   Monday, 10/21/19 11:03:12 PM
Re: RumplePigSkin post# 565355
Post # of 588732 
Page 13 of 5th Circuit En Banc opinion.

The net worth sweep transferred a fortune from Fannie and Freddie to Treasury. When this suit was filed, the GSEs had paid $195 billion in dividends under the net worth sweep. Under the Agreements more broadly, Treasury had disbursed $187 billion and recouped $250 billion, thanks largely to the net worth sweep.

On page ~39

As a textual matter, the net worth sweep actively undermined pursuit of a “sound and solvent condition,” and it did not “preserve and conserve” the GSEs’ assets.192 Treasury has collected $195 billion under the net worth sweep.193 This alone exceeds the $187 billion it invested.194 After paying back more than the initial investment, the GSEs remain on the hook for Treasury’s entire $189 billion liquidation preference.195 And under the net worth sweep, Treasury has a right to the GSEs’ net worth in perpetuity.196

link: http://www.ca5.uscourts.gov/opinions/pub/17/17-20364-CV2.pdf

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (1) | Next 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist